PMI Calculator
Conventional lenders charge PMI when you put down less than 20%. Enter the home price, down payment, your PMI rate (typically 0.3%–1.5% of the loan per year) and mortgage details.
- Monthly PMI
- $180.00
- Yearly PMI
- $2,160.00
- Loan-to-value (LTV)
- 90%
- You can request removal at 80% LTV
- after 7 y 11 m
- Automatic removal at 78% LTV
- after 9 y 1 m
- Estimated total PMI paid
- $19,620.00
- Down payment to avoid PMI (20%)
- $80,000.00
Worked example
Example: $400,000 home, $40,000 down (10%), 0.6% PMI
- Loan = $360,000, LTV = 90%
- Annual PMI = 360,000 × 0.6% = $2,160
- Monthly PMI = $2,160 ÷ 12 = $180
$180/month until the loan reaches 78% of the original value.
Formula
Monthly PMI = Loan amount × PMI rate ÷ 12
LTV = Loan ÷ Home value × 100
Under the Homeowners Protection Act, you can ask to cancel PMI at 80% LTV, and it must end automatically at 78% of the original value if you're current on payments.
Frequently asked questions
How much is PMI per month?
Commonly $30–$70 per $100,000 borrowed, depending on credit score and down payment.
How can I avoid PMI?
Put 20% down, use a piggyback loan, or choose a loan type without PMI (VA loans; FHA has its own MIP instead).
Does PMI apply to FHA loans?
FHA loans charge MIP (mortgage insurance premium), which follows different rules and often lasts the life of the loan.
Is this financial advice?
No. Results are estimates for planning and education. Rates, taxes and lender rules vary — confirm with your lender or a licensed financial professional.
Last reviewed October 17, 2026 · Calculations run in your browser; nothing you enter is sent to a server.